China Manufacturing Slumps on US Levies, Spurring Stimulus Calls

China’s factory activity slipped into the worst contraction since December 2023, revealing early damage from Donald Trump’s tariffs and prompting calls for a speedy policy boost.

The official manufacturing purchasing managers’ index fell more than expected to 49 from 50.5 in March, the National Bureau of Statistics said Wednesday. The non-manufacturing measure showed activity in construction and services grew less than forecast.